Category Archives: CEO Insights

Market Research on the Cheap

Hi everyone! I am doing a series of videos to help other entrepreneurs with their own businesses.  I hope you find them useful!

Have a look at the video. Also here is the video transcript:

Hi John Carini CEO of iEnterprises and CRM and Startup aficionado here bringing you another video that we hope helps you with your own business.

This video will cover how to do market research. Let’s first assume you don’t have tons of money to do formal market research. Perhaps you are bootstrapping the business or you just have an idea and you want to know if it is viable. Let’s discuss how you can do some research on the cheap.

I know this is obvious but start by Googling your idea ( Figure out the term your potential customers would search for and search for it. For example you could search for Small Business CRM if you wanted to build that. This will likely show you your competitors. Write down the keywords you googled – you will need them later. Often times having competition is good. It means there is a market. Also look for flaws your competitors might have – one way to do this is to look at their product reviews. If your biggest competitor is a juggernaut that could be a problem. If there is no competition or you think you have a leg up on the competition then you should investigate further and see how many people are already searching for your idea

I think the easiest way to do that is to use the Google keyword planner( it’s part of Google Ads, but it’s free to see how many searches there are. It will also tell you how much it would cost to buy an ad for that keyword. The best case scenario would be if you Googled there we no competitors but there are loads of searches. But if there are no searches for your idea or there are loads of competitors and the Adwords keyword is very expensive then your idea might be difficult or expensive to market.

But perhaps the best research is to try to sell the product up front. If you know people and companies that might buy your product approach them. Start by asking them for “advice” – ask them what they think about your idea and if they would buy it. If they are very interested maybe you could get them to pay up front or agree to pay once it is ready.

Based on these factors hopefully you have the market research you need to determine if you should push forward. Definitely tune into our next video that discusses how to execute your idea on a budget.

Start your Business on the Cheap: Why Bootstrap?

Hi everyone I am doing a series of videos to help other entrepreneurs with their own businesses.  I hope you find them useful! Have a look at the video also


Here is the video transcript:

20+ years ago I started with nothing and I still have most of it left! (actually I have a bit more)…

So we are planning to do a bunch of videos that we hope will help you with your business.  We really want your feedback so please comment below even if you think this sucks. The first series of videos is on bootstrapping.  Bootstrapping is all about successfully running a business without financing. Even if you have financing you will likely need to bootstrap through lean periods.  Although it is really nice when other people are paying the bills there are a load of advantages to bootstrapping:

  • Being your own boss
  • Not sharing the profit
  • More time to chase customers instead of wasting time finding financing
  • You get to keep more on exit

And my favorite which is having flexibility and being able to do what you want when you want in your personal life.

A big part of bootstrapping is researching and marketing your idea on the cheap.  The next video is on researching your idea.

Hopefully, these videos will be useful to you!